The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-05
THE B. & 0. TELEGRAPH.
Rumors that 1t Has Been Sold Are Denied by
Gould and Green.

New YORK. Oct 4-The Sun says: It was
announced on excellent authority last night that
the terms by which the Western Union Telegraph
COMPANY is to absorb the Baltimore & Ohio
Telegraph Company have been agreed upon. 1t
was stated that Mr.. Gould had directed DIR. Nor
vim Green as president of the Western Union
to sign the contract with Mr.. J. Pierrpont Nor
gan representing the syndicate having in charge
the welfare and ultimate recuperation of the
Baltimore & Ohio properties. powerful di-
rector of the Western Union got out of bed at
midnight to talk about the transaction He said
that Robert Garrett's sudden return to New
York was the result of negotiations affecting the
purchase Of the B. & o. by the Western Union,
and that he will be here to formally participate
in the turning over OF the property.
Mr.. Jay Gould asked to-day if there was
any truth in the rumor that he had completed
arrangements for the purchase of the Baltimore
& Ohio telegraph lines. Il have not heard any
thing about it," he replied. SIS it true that that
matter is ging Mr.. Garrett back from Europe
so early2' II did not know that he was coming
back answered Mr.. Gould. DIR. Norvin Green
said he had answer to make to the question:
HAS Mr.. Gould authorized You to sign con-
tract with j. 2. Morgan for the transfer or the
B. & O. property to the Western Union
The statutory meeting OF the Baltimore d
Ohio Telegraph Company was held this after
noon at the headquarters Ce the company at
Broadway and Canal streets The purpose OF
the meeting was to elect five directors, as re-
CURED by law. The election resulted In the
choice of the following: D. H. Bates. Robert
Garrett, E. r. Bacon, E. A. Leslie, 4. G. M
Bunce This reformation WAS impaired by Mr.
John E. Zueblin. who represented Mr. Bates
Mr.. Zuabin asked if the sale of the tele-
graph company to the Western Union would
come up at the meeting. He replied: at will
not. for 1t cannot. l cannot say what the rail-
road people will do. am large stockholder in
the telegraph company. and don't look as though
had sold out Go LIZ"
BALTIMORE. Oct. -Vicepresident Spencer,
of the Baltimore e. Ohio Railroad Company,
said to-day: 1.-The statement that the Baltimore
& Ohio Railroad Company will abandon val
liable asset as the Baltimore & Ohio Tele-
graph is ridiculous. You may set this down as
a fact however: the B. 6 o. telegraph must
earn more money with less operating expenses"
PHILADELPHIA, Oct. 4-Tne Record will
say: 1t authoritatively stated in
this city yesterday , that ns,S nsgotiatons be be-
'pany and the Baltimore % Ohio telegraph, by
which the former is to obtain control of the lat
ter. have been practically settled 1t will be
made known formally at the next annual meet
ing of the stockholders of the Baltimore Sc
Ohio Railroad Company. At that time Mr..
Garrett will announce the sale of the telegraphic
privileges and tender his resignation presi-
dent of the company. First Vice-president
Spencer will be elected his successor and it is
declared there will be radical change made in
the executive officers of the company
A gentleman who has been promn emily iden-
tilted with all matters pertaining to the recent
operations affecting the Baltimore & Ohio prop
erty, stated yesterday that the sale of the rele
graphic franchises was part of the plan of the
syndicate which recently took $40. 600 coo of the
securities of the Baltimore & Ohio Railroad
Company. General Superintendent Bates. of
the Baltimore 81 Ohio Telegraph Company,
deavored to dispose of the rights of the company
to the syndicate, but this failed, and as Jay
Gould sails at a very early day for Europe, con-
siderable haste is required to have the negotia-
tions consummated."